Martin Lewis has broken his social media silence on the latest prediction from Cornwall Insight. He spoke out about the 'tragic' prediction, which will see the average household energy bills hitting £355 a month this winter.
New dramatic forecasts from Cornwall Insights, published on Tuesday, August 9, predict bills will rise to £4,266 in January, before rising again in April to £4,427 - the previous forecast was for £3,729 in April. The company said these revised numbers were due to energy regulator Ofgem's "change in calculation methodology."
This change in methodology refers to Ofgem's decision to change the price cap every three months, instead of six, and increased wholesale prices for its high forecast. Ofgem said the more frequent reviews allow energy companies to provide more accurate pricing for customers - you can reach more on that here.
